Stocks lower today after HSBC buys UK arm of collapsed Silicon Valley Bank

Stock markets have weakened after last week’s failure of Silicon Valley Bank and Fed Chairman Jerome Powell’s testimony before Congress. The US Dollar declined. The yield on the 10-year US Treasury note has fallen back from above 4% last week to 3.5% today (Monday).

On Tuesday Powell said that the task of bringing inflation back to the long-term target of 2% might have to include raising rates higher than previously anticipated and at a faster pace, adding that the process “is likely to be bumpy”.

Full report
https://realmim.com/stocks-lower-today-after-hsbc-buys-uk-arm-of-collapsed-silicon-valley-bank/

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